Immelt: GE will be in solar market

General Electric CEO Jeff Immelt said Tuesday that despite putting plans for a $300 million solar panel plant in Colorado on hold, the company is dedicated to the business long-term.
“We are going to be in the solar business over time,” Immelt said at the opening of GE’s new battery plant in Schenectady. “We have to make sure we’re cost competative.”
GE has put the factory on hold for at least 18 months as it refines its solar technology and drives down the cost. China has been flooding the U.S. market causing oversupply problems.
GE had planned to hire 100 people here at its renewable energy headquarters in Schenectady and at GE Global Research in Niskayuna, but much of the solar research will be done locally as GE seeks a better product, which could lead to more additional local jobs in the interim. GE has 7,000 Capital Region employees.